Egypt sells 3 and 5-year bonds

Egypt's central bank said on Monday it had sold reopened 3-year and 5-year bonds worth 4 billion Egyptian pounds, below the 5 billion pounds it had offered..

It sold 2 billion pounds of reopened 3-year bonds maturing on October 18, 2014 for which it had offered a coupon of 14 percent. The yield ranged from 15.20 to 15.85 percent.

It also sold 2 billion pounds of reopened 5-year bonds maturing on October 25, 2016 that had a coupon of 14.25 percent. The yield ranged from 15.20 to 16.0 percent.

Settlement will take place on Nov 29.

Government bonds are sold by the central bank on behalf of the finance ministry.